⚠️ Important Update for SMSF Trustees – ATO Tightens Disqualification Guidance

The Australian Taxation Office (ATO) has updated its guidance on when an individual may be disqualified from acting as a Self-Managed Super Fund (SMSF) trustee. The revised Practice Statement PS LA 2006/17 expands the Commissioner’s powers and clarifies the factors considered when assessing trustee compliance.

Key updates include:

✅ An individual may now be disqualified under both the “contravention” and “fit-and-proper” tests where evidence supports both grounds.

✅ The ATO may allow trustees time to wind up their SMSF or appoint an APRA-regulated RSE licensee before disqualification takes effect.

✅ Greater focus will be placed on:
• The seriousness and number of SMSF contraventions
• Risks of permanent asset depletion
• Illiquid or non-compliant investments
• Overall trustee conduct and compliance history

For SMSF trustees, maintaining proper records, complying with superannuation laws, and seeking professional advice has never been more important.

At iCare Super, we help clients establish and manage compliant SMSFs with ongoing support and guidance to reduce compliance risks.

✔️ SMSF setup assistance
✔️ Corporate trustee establishment
✔️ Ongoing compliance support
✔️ Cost-effective monthly pricing
✔️ Flexible exit options anytime

Contact iCare Super today to discuss your SMSF needs and stay compliant with the latest ATO requirements.

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